AK Limited provided the following information: On 30 April 205 the directors decided to: Transfer 17,500
Question:
AK Limited provided the following information:
On 30 April 20–5 the directors decided to:
• Transfer 17,500 to general reserve
• Proposed an final ordinary share dividend of 3%.
Additional information at 30 April 20–5:
$
Premises at cost ................................................................ 425,000
Equipment at cost ............................................................ 124,000
Motor vehicles at cost ...................................................... 80,000
Provision for depreciation of equipment ............................ 93,000
Provision for depreciation of motor vehicles ......................... 25,000
Trade payables ........................................................................... 38,700
Trade receivables ........................................................................ 32,000
Other payables ......................................................................... 770
Other receivables .............................................................................. 1,520
Provision for doubtful debts ............................................................ 800
5% debentures ................................................................................... 30,000
Balance at bank ................................................................................. 15,000
Inventory ............................................................................................ 35,750
a. Prepare the statement of changes in equity for the year ended 30 April 20–5.
b. Prepare the statement of financial position at 30 April 20–5.
Step by Step Answer:
Cambridge IGCSE And O Level Accounting Coursebook
ISBN: 9781316502778
2nd Edition
Authors: Catherine Coucom